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Planning commission urges council to exempt 1'2 unit small lots from land-value-recapture fee and study incentives
Summary
After staff reported no uptake under the land value recapture (LVR) ordinance, commissioners unanimously recommended City Council exempt 1-2 unit small lots, direct staff to explore zoning incentives, and approve a temporary reduced fee for 3-4 unit small-lot projects to spur redevelopment.
Hermosa Beach planning commissioners on Nov. 18 unanimously recommended City Council exempt the smallest overlay sites from the city's land value recapture fee and direct staff to pursue zoning incentives and a temporary fee reduction to encourage small-lot redevelopment.
Staff reviewed the LVR ordinance adopted Jan. 23, 2024 and effective when the housing element was certified Aug. 1, 2024. The ordinance applies to housing-element overlay sites that were rezoned from nonresidential uses; projects must either include on-site affordable units or pay an LVR fee that was designed to equal the subsidy needed for affordable housing. Staff summarized the council'adopted two-tier fee structure: tier 1 at $76 per square foot for parcels under the 4-unit threshold and tier 2 at $104 per square foot for larger…
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